Investor enthusiasm faded for the latest meme stocks on Wednesday, with shares in heavily shorted Krispy Kreme and GoPro closing well below their session highs, while Tuesday's investor darling - department store Kohl's - finished sharply lower.

Shares in Krispy Kreme donuts, camera maker GoPro, and retailer Kohl's have risen dramatically this week, driven by online hype.

Investors are again turning to meme stocks in the hopes of scoring quick gains. The latest beaten down companies to see a share price revival are Krispy Kreme, GoPro and Beyond Meat.